EMCOR Group (NYSE:EME) Trading Down 16.2% - Here's What Happened

EMCOR Group, Inc. (NYSE:EME - Get Free Report) dropped 16.2% during trading on Monday . The company traded as low as $448.61 and last traded at $445.73. Approximately 291,535 shares were traded during trading, a decline of 19% from the average daily volume of 357,869 shares. The stock had previously closed at $531.65.

Analyst Ratings Changes

EME has been the topic of several analyst reports. Stifel Nicolaus initiated coverage on EMCOR Group in a report on Friday, November 15th. They set a "buy" rating and a $600.00 price target on the stock. StockNews.com upgraded shares of EMCOR Group from a "buy" rating to a "strong-buy" rating in a research note on Wednesday, October 9th. Northcoast Research started coverage on shares of EMCOR Group in a research note on Friday, November 22nd. They issued a "buy" rating and a $600.00 target price on the stock. Finally, The Goldman Sachs Group started coverage on EMCOR Group in a research report on Friday, November 22nd. They issued a "sell" rating and a $445.00 price target on the stock. One analyst has rated the stock with a sell rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $518.75.

EMCOR Group Stock Performance

The company has a market capitalization of $19.77 billion, a price-to-earnings ratio of 21.82 and a beta of 1.12. The firm's 50-day simple moving average is $490.19 and its 200-day simple moving average is $437.44.

EMCOR Group (NYSE:EME - Get Free Report) last released its earnings results on Thursday, October 31st. The construction company reported $5.80 earnings per share for the quarter, topping analysts' consensus estimates of $4.98 by $0.82. EMCOR Group had a return on equity of 34.99% and a net margin of 6.51%. The business had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $3.77 billion. During the same period last year, the business earned $3.61 earnings per share. The firm's revenue for the quarter was up 15.3% compared to the same quarter last year. Equities research analysts forecast that EMCOR Group, Inc. will post 20.74 earnings per share for the current year.

EMCOR Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Thursday, January 16th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, January 16th. This represents a $1.00 dividend on an annualized basis and a yield of 0.23%. EMCOR Group's dividend payout ratio is currently 5.08%.

Institutional Investors Weigh In On EMCOR Group

Institutional investors have recently added to or reduced their stakes in the stock. World Investment Advisors LLC acquired a new position in EMCOR Group in the third quarter valued at approximately $100,282,000. Nordea Investment Management AB lifted its stake in shares of EMCOR Group by 2,246.2% in the 4th quarter. Nordea Investment Management AB now owns 142,578 shares of the construction company's stock valued at $65,036,000 after purchasing an additional 136,501 shares during the period. Swedbank AB lifted its stake in shares of EMCOR Group by 399.4% in the 4th quarter. Swedbank AB now owns 153,443 shares of the construction company's stock valued at $69,648,000 after purchasing an additional 122,716 shares during the period. Caisse DE Depot ET Placement DU Quebec lifted its stake in EMCOR Group by 45.2% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 283,072 shares of the construction company's stock valued at $121,871,000 after buying an additional 88,074 shares during the period. Finally, International Assets Investment Management LLC acquired a new position in EMCOR Group in the third quarter valued at about $31,140,000. 92.59% of the stock is owned by institutional investors and hedge funds.

About EMCOR Group

EMCOR Group, Inc provides construction and facilities, building, and industrial services in the United States and the United Kingdom. It offers design, integration, installation, start-up, operation, and maintenance services related to power transmission, distribution, and generation systems; energy solutions; premises electrical and lighting systems; process instrumentation; low-voltage systems; voice and data communications systems; roadway and transit lighting, signaling, and fiber optic lines; computerized traffic control systems, and signal and communication equipment; heating, ventilation, air conditioning, refrigeration, and geothermal solutions; clean-room process ventilation systems; fire protection and suppression systems; plumbing, process, and high-purity piping systems; controls and filtration systems; water and wastewater treatment systems; central plant heating and cooling systems; crane and rigging services; millwright services; and steel fabrication, erection, and welding services.